Bajaj Finserv Home Loan Interest Rate
Headquartered in Pune, Bajaj Finserv has emerged as one of the most diversified and robust Non-Banking Financial Companies (NBFCs) in India. The company has its presence across a wide array of services that include lending, wealth management, and insurance. Bajaj Finserv home loan interest rate starts at a cost-effective rate of 8.50% p.a. for both salaried and self-employed borrowers. The loan amount offered by this NBFC is up to Rs. 15 crores and 40 years is the maximum repayment tenure.
Bajaj Finserv Home Loan EMI Calculator
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Bajaj Finserv Home Loan Key Highlights
| Amount of Loan | Up to Rs. 15 crores |
|---|---|
| Rate of Interest | 8.50% p.a. onwards |
| Processing Fees |
Up to 7% of home loan |
| Max Tenure for Loan Repayment | 40 years |
Bajaj Finserv Home Loan Interest Rates in 2024
As mentioned above, Bajaj Finserv Home Loan interest rate 2024 starts at 8.50% per annum. The company offers home loans to both salaried and non-salaried borrowers. The table below lists the different rates of interest applicable for salaried and non-salaried categories of borrowers:
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| Salaried Applicants | 8.50% to 15% per annum |
| Self Employed Applicants | 9.10% to 15% per annum |
Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants
Repo Linked Lending Rate (RLLR)
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| All Loans | 8.50% p.a. onwards |
Bajaj Finserv Home Loan Interest Rates for Women
| Loan Slab | Rate of Interest on Home Loan |
|---|---|
| Women applicants | 8.50% p.a. onwards |
Top-Up Loan Interest Rates
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| Top-Up for Existing Customers | 9.80% p.a. onwards |
Interest rates were last updated on 1st May 2024
Bajaj Finserv Home Loan Interest Rates for All Schemes in India
Bajaj Finserv has been offering home loan options for its customers to fulfill their dream of owning a house. The NBFC has been offering home loans for different customers for different purposes like purchasing a new house, buying land to construct a house, renovating an old house, etc. Below are the interest rates offered by the NBFC on the various home loan schemes:
| Bajaj Finserv Home Loan Schemes | Rates of Interest for Each Plan |
|---|---|
| Home Loan |
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| Loan Against Property |
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| Dual Rate Home Loan Including Top-Up |
|
| Home Loan Balance Transfer |
|
Bajaj Finserv Home Loan Interest Rates for Balance Transfer, Top Up and Overdraft
To meet certain unforeseen additional expenses borrowers sometimes had to avail of extra loan amounts. Also, sometimes borrowers might find it difficult to repay a loan due to excessive financial burden. In such situations, facilities like top-ups, balance transfers, and overdrafts come to the rescue which are mentioned below in detail.
Bajaj Finserv Home Loan Balance Transfer
Bajaj Finserv allows customers of other banks and NBFCs to transfer their outstanding loan amounts to Bajaj Finserv if their existing home loan’s interest rates are beyond their affordability. In that case, they can transfer the remaining (outstanding or balance) loan amount to Bajaj Finserv at a relatively affordable interest rate starting from 8.70% per annum for salaried borrowers and 9.50% for self-employed borrowers.
Bajaj Finserv Home Loan Top Up
A top-up loan allows borrowers to avail loan amounts over and above the existing home loan. This helps applicants to meet any unforeseen additional expenses or any unplanned costs on home improvement or upgrades. The Bajaj Finserv home loan top-up interest rates start at 9.80% p.a.
Bajaj Finserv Home Loan Overdraft Facility
Under the Bajaj Finserv home loan overdraft facility once a borrower is approved for a loan amount, it gets deposited into an overdraft account linked to the home loan and acts as a pool of funds for the borrower who can withdraw any surplus amount over and above the EMI payments from this fund.
The Bajaj Finserv overdraft facility allows applicants quick access to a loan amount if they need any excess funds or overdraft to fulfill an urgent need or an emergency.
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Compare Bajaj Finserv Home Loan Interest Rate with Top Banks
Different NBFCs and banks offer different rates of interest while lending home loans. Hence, it is good to compare them before applying for a home loan with your preferred lender. The table below highlights and compares the interest rates of the top NBFCs and banks in India with those of Bajaj Finserv home loan interest rates:
| Bank/NBFC | Rate of Interest on Home Loan | Processing Fee |
|---|---|---|
| Bajaj Finserv | 8.50% p.a. onwards | Up to 7% of the loan amount |
| PNB Housing | 8.75% p.a. onwards | Up to 0.35% (Maximum Rs. 15,000) |
| ICICI Bank | 8.75% p.a. onwards | 0.50% - 2% of the loan amount or Rs. 3,000 (whichever is higher) |
| DCB Bank | 9.75% p.a. onwards | Up to 2% of the loan amount (Min. Rs. 5,000) |
| Kotak Mahindra Bank | 8.70% p.a. onwards | Up to 0.5% (plus taxes) of the loan amount for Salaried | Up to 1% (plus taxes) of the loan amount for Self-employed |
Bajaj Finserv Home Loan Balance Transfer Interest Rates
Bajaj Finserv offers easy transfer of home loans wherein borrowers can easily transfer their existing home loan amounts to Bajaj Finserv at an affordable rate of interest. Borrowers who want to save on interest rates can shift to Bajaj Finserv home loan balance transfer at better transfer interest rates. The process of initiating a loan balance transfer can be done by following the below steps:
- Go to the official BASIC Home Loan website.
- Visit the Repay Right section.
- Here, you should fill in the required details in an online form given in the section that includes the outstanding loan amount on the existing loan, repayment tenure and rate of interest per annum of the existing loan, the existing EMI as well as the new rate of interest per annum.
- To proceed ahead, click on the ‘Next’ button.
- Check your savings by selecting the Bajaj Finserv Home Loan Balance Transfer option.
- You may also contact the BASIC Home Loan team for a seamless balance transfer option.
Get Home Loan Starting at 8.5%*
How to Calculate Bajaj Finserv Home Loan Interest Rates?
Using an online EMI Calculator tool is the smoothest way to calculate the home loan interest rates for the Bajaj Finserv to get the most accurate results. EMI lets you calculate the EMI using the online tool. In the table below you can see data for the monthly EMI payable for different tenures, such as 10, 20, and 30 years, for Bajaj Finserv home loans offering an interest rate of 8.50% p.a.
Bajaj Finserv Home Loan EMI Calculator 2024
| Loan Amount | Rate of Interest | EMI for 10-Year Loan Tenure | EMI for 20-Year Loan Tenure | EMI for 30-Year Loan Tenure |
|---|---|---|---|---|
| Rs. 10 lakh | 8.50% p.a. | Rs. 12,399 | Rs. 8,678 | Rs. 7,689 |
| Rs. 20 lakh | 8.50% p.a. | Rs. 24,797 | Rs. 17,356 | Rs. 15,378 |
| Rs. 30 lakh | 8.50% p.a. | Rs. 37,196 | Rs. 26,035 | Rs. 23,067 |
| Rs. 40 lakh | 8.50% p.a. | Rs. 49,594 | Rs. 34,713 | Rs. 30,757 |
| Rs. 50 lakh | 8.50% p.a. | Rs. 61,993 | Rs. 43,391 | Rs. 38.446 |
| Rs. 60 lakh | 8.50% p.a. | Rs. 74,391 | Rs. 52,069 | Rs. 46,135 |
| Rs. 70 lakh | 8.50% p.a. | Rs. 86,790 | Rs. 60,748 | Rs. 53,824 |
| Rs. 80 lakh | 8.50% p.a. | Rs. 99,189 | Rs. 69,426 | Rs. 56,667 |
| Rs. 90 lakh | 8.50% p.a. | Rs. 1,11,587 | Rs. 78,104 | Rs. 69,202 |
| Rs. 1 crore | 8.50% p.a. | Rs. 1,23,986 | Rs. 86,782 | Rs. 76,891 |
The table above provides the monthly EMI payable at an interest rate of 8.50% p.a. offered by Bajaj Finserv. This data may vary from bank to bank.
FAQ's
8.50 % is the interest rate of a home loan in Bajaj Finserv
40 years is the maximum loan repayment period for Bajaj Finserv Bank home loans.
Rs. 15 Crore is the maximum loan amount provided by Bajaj Finserv as home loans.
Bajaj Finserv Home Loan interest rate is floating.
Once the application for a Bajaj Finserv online home loan is complete, the digital sanction of the loan approval letter is done within minutes.
Bajaj Finserv offers online home loans at competitive interest rates starting at 8.50%* p.a.